When investment is a fine art

The fickle trends of the art market can paint inexperienced investors into a corner. Novice investors will do well to treat artwork as an aesthetic investment rather than a financial one.

A 1969 Francis Bacon painting of his friend and rival Lucian Freud sitting on a chair recently became the most expensive artwork ever sold when Christie’s dropped the hammer in November at a price of $US142.4 million.

Christie’s beat its own rival Sotheby’s, which had only set the record in May 2012 when Edvard Munch’s more well-known pastel The Scream sold for $US119.9 million $A132.9 million).

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